The Bulgarian Investment Agency (BIA) and the Japan External Trade Organization (JETRO) are signing a memorandum of understanding that will give new impetus to the trade and economic relations between Bulgaria and Japan. The two countries are seeking opportunities to deepen economic cooperation in sectors such as rail transport, energy and information technology. The memorandum will launch a bilateral business forum starting today in Sofia, as part of the official visit to Bulgaria of Japan’s Parliamentary Vice Minister of Economy, Trade and Industry Akiyoshi Kato. The visiting delegation includes representatives from Japanese companies in key sectors of mutual interest. This is a direct opportunity for Bulgarian small and medium-sized enterprises to establish immediate contacts for future partnerships.

Yesterday, at a meeting at the Presidency, Bulgarian President Rumen Radev assured the Japanese delegation that Japanese businesses can count on Bulgaria’s political support for investments in the country.

The Ministry of Energy hosted discussions on projects for the construction of four new pumped-storage hydro power plants with private funding, as well as on expanding nuclear capacity and green hydrogen production in the context of the Japanese government's policy to invest in energy projects in Eastern European countries. It is expected that at the beginning of 2026, three of the four units of the Chaira Pumped Storage Hydro Power Plant will be restored, providing over 600 megawatts of capacity. 

Published and translated by Kostadin Atanasov

Photos: Ministry of Energy; Bulgarian President